The cost of hosting last year's Tokyo Olympics and Paralympics is now being set at 1.42 trillion yen ($10.5 billion), down 30 billion yen from the amount forecast in December, a source with knowledge of the matter said Saturday.

The games' organizing committee will announce the official figure following its Tuesday board meeting, with the Tokyo metropolitan government's burden lightened by 20 billion yen following "close examination" of the costs, the source said.

The organizers, the metropolitan government and the central government were to jointly shoulder the games' financial burden.

In December's estimate, the organizers were to pay 634 billion yen, the metropolitan government 625 billion yen and the central government 194 billion yen.

The games were postponed for a year from the summer of 2020 due to the COVID-19 pandemic and spectators barred from most venues, depriving organizers of most of the expected ticket revenue.

December's estimate put the metropolitan government's share of the costs for additional safety measures at 62.8 billion yen. That figure will be reduced to around 40 billion yen.

The organizing committee is set to be dissolved at the end of this month.